Shipping tycoon Yuli Ofer dies at the age of 89

By Jennifer Lipman, September 12, 2011

One of Israel's wealthiest men has died three months after the death of his older brother and business partner.

Yuli Ofer was 87 when he died on Thursday. He owned the Zim Integrated Shipping Services company with Sammy Ofer, who died in June at the age of 89.

The Ofers' joint worth was said to be about £6.5 billion.

The brothers emigrated from Romania to British Mandate Palestine with their family in 1924.

Mr Ofer later served in the Israeli army in several of Israel's early conflicts.

The younger generations of the family, who now run the business, recalled Yuli as "a people's person".

"He loved them and invested in them, and they loved him and invested in him," they said. "Yuli was sensitive to every private and public stirring, and he was endowed with an infinite capacity to give to his family, his friends, and his surroundings."

Last updated: 8:42am, September 12 2011